Customer Reviews

Financial Independence Through Buying And Investing In Single Family Homes

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David Grzesiek has produced in this title, a very detailed, and specific introduction to making money in the real estate business. Avoiding the hyperbole, and excessive claims of other titles in this field, he details methods, and techniques for making profit in single family homes. These are backed up with charts and statistics. The illustrations he uses are not current in the values represented, but he is more interested in conveying understanding of principles, which translate into whatever figures you require with little effort.
Not a make money overnight book, nor a title that neglects detail amidst "positive attitude" bluff, this is a readable, accessible title that I believe would assist people in making a start in a profitable field.

Other reviewers have stated that this book is dated and it is but that misses the fact that the basic premise of the book is still valid. With the way prices are going up in some places. you'd need a new edition every year to keep current. Look past that and grasp the fact that it's possible to become financially independent by owning as few as three rental houses and the one you live in.

This is a very unique book in the field of real estate investing that will expose you to thinking outside the box. The goal of all investing should be to achieve financial independence, not owning a bunch of houses.

There are areas of the country where this plan won't work as well as others because rents don't begin to cover the operating expenses and mortgage unless you go in with a huge down payment. But, even though those who live in the hyper-markets of San Diego, Boston or DC won't believe it, there are still very nice areas of the country where you can buy houses all day for less than $100,000. And in those markets, this plan will work.

The information provided in this book is extremely dated and unrealistic. I live in California and I do understand the real estate prices are much higher on average than most parts of the country. However, he uses an example of an average 3BR, 2BA home selling for between $10,000 and $15,000 and continues to use these numbers throughout his book. Somebody tell me where these homes exist? Downtown Baghdad? He gives an example of how to determine the value of a rental income property. He says to take the monthly rental amount and multiply it by 100 to determine the value of the property. His example was $150 monthly rent x 100 = house value of $15,000. I own a rental that rents for $1500. If I used his example $1500 x 100 = $150,000 right? Wrong!!! This same property will sell today for $375,000, which means a buyer's tenants would have to pay $3,750 per month. Gee, do these numbers ad up? You figure!